Kirby Corporation (NYSE:KEX) Lowered to “Sell” at BidaskClub

Kirby Corporation (NYSE:KEX) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, July 24th.

A number of other research firms also recently issued reports on KEX. Zacks Investment Research downgraded shares of Kirby Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $85.00 target price on shares of Kirby Corporation in a research note on Tuesday, May 30th. Cowen and Company raised their price target on shares of Kirby Corporation from $65.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday, April 27th. Stifel Nicolaus decreased their target price on shares of Kirby Corporation from $71.00 to $69.00 and set a “hold” rating on the stock in a research report on Thursday, June 15th. Finally, Credit Suisse Group raised shares of Kirby Corporation from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $58.00 to $80.00 in a report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $71.25.

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Shares of Kirby Corporation (KEX) opened at 60.15 on Monday. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 27.57 and a beta of 1.01. Kirby Corporation has a 52 week low of $50.80 and a 52 week high of $74.50. The stock’s 50 day moving average price is $63.47 and its 200 day moving average price is $67.29.

Kirby Corporation (NYSE:KEX) last issued its earnings results on Wednesday, July 26th. The shipping company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. The firm had revenue of $473.33 million during the quarter, compared to analysts’ expectations of $478.85 million. Kirby Corporation had a net margin of 6.41% and a return on equity of 4.85%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share. Equities research analysts anticipate that Kirby Corporation will post $1.95 EPS for the current fiscal year.

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Several institutional investors have recently modified their holdings of KEX. Huntington National Bank raised its position in shares of Kirby Corporation by 11.3% in the second quarter. Huntington National Bank now owns 2,453 shares of the shipping company’s stock valued at $164,000 after buying an additional 249 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of Kirby Corporation during the second quarter valued at $204,000. World Asset Management Inc raised its position in shares of Kirby Corporation by 0.9% in the first quarter. World Asset Management Inc now owns 3,300 shares of the shipping company’s stock valued at $233,000 after buying an additional 28 shares during the last quarter. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Kirby Corporation during the second quarter valued at $233,000. Finally, Riverhead Capital Management LLC raised its position in shares of Kirby Corporation by 70.8% in the second quarter. Riverhead Capital Management LLC now owns 3,929 shares of the shipping company’s stock valued at $263,000 after buying an additional 1,629 shares during the last quarter.

Kirby Corporation Company Profile

Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.

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